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For the first time ever, the U.S. Treasury Department announced that they have sanctioned two Bitcoin wallet addresses connected to a ransomware scheme associated with two Iranian men. Bitcoin Wallets Sanctioned in Unprecedented Case As first today, the U.S. Treasury Department’s Office of Foreign Assets Control claimed that...
Concerns are growing surrounding Iran’s use of cryptocurrencies like Bitcoin and Monero – and soon, their own native cryptocurrency – to evade economic sanctions put in place by the U.S., prompting FinCEN to issue an advisory on the topic. FinCEN on Iran’s Exploitation of Financial Markets The Financial...
North Korea is reportedly ramping up the use of cryptocurrencies to evade US economic sanctions. It’s also alleged that the country is developing its own native crypto asset to further assist moving money across borders, according to a duo of financial intelligence analysts from Washington D.C. North Korea Allegedly...
Rogue state Iran has reportedly announced details about its plans to launch and support its own national cryptocurrency, in an attempt to evade sanctions imposed by the Trump administration. Iran Cryptocurrency Will Be Backed By Rial The Republic of Iran is facing an economic crisis due to United...
Venezuela is facing hyperinflation and international sanctions that have brought the economy and its people to their knees. In response, President Nicolás Maduro recently mandated that his Petro crypto will become the nation’s second official currency starting tomorrow, August 20. In relation, some believe a “post-fiat” world is emerging in...
An Iranian parliament member has suggested that digital currencies be used in attempts to work around returning economic sanctions from the United States. Iran and Digital Currencies The idea was brought forth by MP Mohammad-Reza Pourebrahimi who recently met with Dmitry Mezentsev, the Russian Chair of the Federation...
Despite last weeks ban on the cryptocurrency market by central banking authorities, Iran is still moving ahead with plans to develop an experimental local coin, according to a government minister. Just last week Iran’s central bank prohibited banks in the country from dealing in cryptocurrencies, citing fears of...
In February, Venezuelan President Nicolas Maduro announced the release of the Petro, a controversial digital currency backed by the country’s oil reserves. This week, according to Venezuela’s Official Gazette, it has been ordered that the token must be accepted as legal tender for all transactions involving government institutions...
The US Treasury Department has announced it may start adding the cryptocurrency addresses of blacklisted persons to their list of sanctions as reported in the Wall Street Journal. Treasury to Sanction Crypto addresses Along with a white house order signed by President Donald Trump banning Americans from trading...
In the latest move by the U.S. government to restrict the Maduro regime’s access to capital, President Donald Trump has issued an executive order banning any transactions within the U.S. involving “any digital currency, digital coin, or digital token, that was issued by, for, or on behalf of...
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